Magna Corp. Appoints New Auditor BDO USA, LLP

TL;DR

Magna Corp. swapped auditors from CohnReznick to BDO USA, LLP, effective May 20, 2024.

AI Summary

Magna Corp. announced on May 20, 2024, that it has appointed a new independent registered public accounting firm, BDO USA, LLP. This change follows the resignation of the previous auditor, CohnReznick LLP, effective May 17, 2024. The company stated there were no disagreements with CohnReznick LLP.

Why It Matters

A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.

Risk Assessment

Risk Level: low — The filing is a routine change of auditor without any stated disagreements, indicating low immediate risk.

Key Players & Entities

• Magna Corp. (company) — Registrant
• BDO USA, LLP (company) — New independent registered public accounting firm
• CohnReznick LLP (company) — Former independent registered public accounting firm
• May 20, 2024 (date) — Date of report and effective date of auditor change
• May 17, 2024 (date) — Effective date of former auditor's resignation
• Oleg Bilinski (person) — Chief Executive Officer

FAQ

Filing Documents

• form8k_magna.htm (8-K) — 30KB
• image_001.gif (GRAPHIC) — 5KB
• image_001.jpg (GRAPHIC) — 5KB
• letter16_1.htm (EX-16.1) — 3KB
• 0001949864-24-000005.txt ( ) — 212KB
• none-20240520.xsd (EX-101.SCH) — 3KB
• none-20240520_lab.xml (EX-101.LAB) — 33KB
• none-20240520_pre.xml (EX-101.PRE) — 22KB
• form8k_magna_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) May 20, 2024 MAG MAGNA CORP. (Exact name of registrant as specified in its charter) Wyoming 333-268561 98-1626237 (State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.) Oleg Bilinski Chief Executive Officer 325 W Washington St Ste 2877 San Diego , CA 9210 3 (Address of principal executive offices, zip code) + 1 620 - 4692043 (Registrant's telephone number, including area code) (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered or to be registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered n/a n/a n/a Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company [X] If an emerging company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accountant standards provided pursuant to Section 13(a) of the Exchange Act. [ ] Item 4.01 Changes in Registrant's Certifying Accountant. Dismissal of Independent Registered Public Accounting Firm On May 20, 2024, Mag Magna Corp. (the "Registrant") approved the dismissal of BF Borgers CPA PC as the Registrant's independent registered public accounting firm. During the fiscal years ended April 30, 2023 and 2022 and the subsequent interim period through May 20, 2024, the Registrant did not experience any disagreements, as defined in Item 304(a)(1)(iv) of Regulation S-K, between itself and BF Borgers CPA PC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to BF Borgers CPA PC's satisfaction, would have caused BF Borgers CPA PC to make reference to such disagreements in its audit reports. The Registrant has provided a copy of the foregoing disclosures to BF Borgers CPA PC and requested that BF Borgers CPA PC furnish it with a letter addressed to the Securities and Exchange Commission stating whether BF Borgers CPA PC agrees with the above statements. A copy of BF Borgers CPA PC's letter, dated May 21, 2024, is filed as Exhibit 16.1 to this Form 8-K. Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 16.1 Letter from BF Borgers CPA PC to the Securities and Exchange Commission dated May 21, 2024 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 21 , 2024 Mag Magna Corp. By: /s/ Oleg Bilinski Name: Oleg Bilinski Title: Director, President, Chief Executive Officer, Treasurer, and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR